We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PriceSmart's (PSMT) May Comps Down on Currency Headwinds
Read MoreHide Full Article
PriceSmart, Inc. (PSMT - Free Report) comparable warehouse sales (comps) for the five-week period (ended Jun 2, 2019) for 40 warehouse clubs fell 0.9%, following a 0.5% decline in April. Comps for March, February and January dropped 1%, 1.9% and 1.4%, respectively. We note that foreign currency exchange rate fluctuations adversely impacted comps by 3.9%.
For the 39-week period (ended Jun 2, 2019), comps declined 1.3%. Foreign currency exchange rate fluctuations negatively impacted comps by 3.3%.
Nevertheless, net merchandise sales increased 0.8% to $251 million from $248.7 million in the year-ago period. However, the metric was adversely impacted by currency rate fluctuations to the tune of $9.6 million or 3.8%. In the preceding month, the company posted net merchandise sales growth of 0.9%, while for March the metric inched up 0.1%. In February, it remained flat and improved 0.3% in January.
Net merchandise sales advanced 0.4% to $2,322.6 million for the nine months (ended May 31, 2019) from $2,312.2 million in the same period last year. Foreign currency exchange rate fluctuations hurt net merchandise sales by $77.1 million or 3.3%.
We note that comparable net merchandise sales in the second quarter of fiscal 2019 dipped 0.9%. Adverse currency fluctuations negatively impacted comparable net merchandise sales by 3.7%.
Brighter Side of the Story
Despite weak comps performance, this Zacks Rank #2 (Buy) company’s total sales grew 1.8% to $839.6 million on a year-over-year basis in the second quarter of fiscal 2019. Total revenues included a $9.9 million contribution from the Aeropost acquisition. Net merchandise sales rose 0.5%. PriceSmart’s strategy to sell limited products at lower prices has helped it generate member loyalty and higher sales.
L Brands , with a long-term earnings per share growth rate of 11%, carries a Zacks Rank #2.
Kering SA (PPRUY - Free Report) , with a long-term earnings per share growth rate of 10%, carries a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PriceSmart's (PSMT) May Comps Down on Currency Headwinds
PriceSmart, Inc. (PSMT - Free Report) comparable warehouse sales (comps) for the five-week period (ended Jun 2, 2019) for 40 warehouse clubs fell 0.9%, following a 0.5% decline in April. Comps for March, February and January dropped 1%, 1.9% and 1.4%, respectively. We note that foreign currency exchange rate fluctuations adversely impacted comps by 3.9%.
For the 39-week period (ended Jun 2, 2019), comps declined 1.3%. Foreign currency exchange rate fluctuations negatively impacted comps by 3.3%.
Nevertheless, net merchandise sales increased 0.8% to $251 million from $248.7 million in the year-ago period. However, the metric was adversely impacted by currency rate fluctuations to the tune of $9.6 million or 3.8%. In the preceding month, the company posted net merchandise sales growth of 0.9%, while for March the metric inched up 0.1%. In February, it remained flat and improved 0.3% in January.
Net merchandise sales advanced 0.4% to $2,322.6 million for the nine months (ended May 31, 2019) from $2,312.2 million in the same period last year. Foreign currency exchange rate fluctuations hurt net merchandise sales by $77.1 million or 3.3%.
We note that comparable net merchandise sales in the second quarter of fiscal 2019 dipped 0.9%. Adverse currency fluctuations negatively impacted comparable net merchandise sales by 3.7%.
Brighter Side of the Story
Despite weak comps performance, this Zacks Rank #2 (Buy) company’s total sales grew 1.8% to $839.6 million on a year-over-year basis in the second quarter of fiscal 2019. Total revenues included a $9.9 million contribution from the Aeropost acquisition. Net merchandise sales rose 0.5%. PriceSmart’s strategy to sell limited products at lower prices has helped it generate member loyalty and higher sales.
Interested in the Retail Space? Check These
Children’s Place (PLCE - Free Report) , with a long-term earnings per share growth rate of 8%, sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L Brands , with a long-term earnings per share growth rate of 11%, carries a Zacks Rank #2.
Kering SA (PPRUY - Free Report) , with a long-term earnings per share growth rate of 10%, carries a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>